Pérez-Calero, L.Kopoboru, S.Cuevas-Rodríguez, G.Guerrero-Villegas, J.Giráldez, Pilar2025-12-192025-12-192025Pérez-Calero, L., Kopoboru, S., Cuevas-Rodríguez, G., Guerrero-Villegas, J., Giráldez-Puig, P. (2025). To What Extent Does ESG Performance Influence Board Engagement in Acquisition Activity? Corporate Social Responsibility and Environmental Management.10.1002/csr.70306https://hdl.handle.net/10433/25282Proyectos de investigación PID2021-128420OB-100. Ministerio de Ciencia e Innovación. ProyExcel_00934. Junta de Andalucía.This study examines the relationship between boards and corporate acquisition activity. Specifically, we posit that boards with directors who have been politicians positively influence the propensity to pursue acquisitions and that ESG performance (divided into environmental, social, and governance scores) moderates this relationship. Our results provide evidence of the positive influence of former politicians on acquisitions, suggesting that their political connections and their understanding of the regulatory landscape may mitigate the risks associated with acquisitions and enhance the likelihood of acquiring other firms. Our research also demonstrates the critical role of sustainable initiatives so that firms with strong ESG performance are better positioned to address the challenges associated with acquisitions. It may indicate that stakeholders—such as investors, customers, and communities—are more likely to support acquisitions by companies that demonstrate a commitment to sustainability practices. Therefore, our results have implications for the acquisitions' strategic management, highlighting the need for firms to carefully consider how their boards are composed. It is no longer sufficient to focus only on the skills and resources that directors bring to the firm (i.e., former politicians) but also to ensure that board members are aligned with the firm's ESG initiatives.enAttribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/AcquisitionsBoard of directorsCorporate social responsibilityESG performanceFormer politiciansjournal articleopen access